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Biotech / Medical : Procept (PRCT): 50% rise on high volume. Why? -- Ignore unavailable to you. Want to Upgrade?

To: Douglas who wrote (417)	6/30/1999 8:17:00 AM
From: Douglas	Respond to of 455

Procept, Inc. Appoints Glenn L. Cooper, M.D. As Director CAMBRIDGE, Mass.--(BW HealthWire)--June 30, 1999--Procept, Inc. (Nasdaq SmallCap:PRCT - news) today announced the election of Glenn L. Cooper, M.D. to its Board of Directors, increasing the number of board members from seven to eight. Dr. Cooper's appointment is effective immediately. Dr. Cooper has been President, Chief Executive Officer and a director of Interneuron Pharmaceuticals, Inc. since May 1993. Dr. Cooper is also Chairman of the Board of Intercardia, Inc., a majority-owned subsidiary of Interneuron located in Research Triangle Park, N.C. In addition, he is a director of Aeolus Pharmaceuticals, Inc. and Cardiovascular Pharmacology & Engineering Consultants, Inc., both subsidiaries of Intercardia. Dr. Cooper is also a director of Genta, Inc., a public biotechnology company located in Lexington, MA. Prior to joining Interneuron, Dr. Cooper held positions as President and Chief Operating Officer of Progenitor, Inc. and as Executive Vice President and Chief Operating Officer of Sphinx Pharmaceuticals Corporation. He has also held a variety of positions in clinical research and regulatory affairs at Eli Lilly and Company. Dr. Cooper received his medical degree from Tufts University School of Medicine, and is a graduate of Harvard College. He performed his postdoctoral training at Massachusetts General Hospital and New England Deaconess Hospital. ''We are very pleased to have Dr. Cooper joining Procept's Board of Directors,'' said John F. Dee, President and Chief Executive Officer of Procept. ''Dr. Cooper brings extensive business and medical experience from the pharmaceutical and biotechnology industries. The Company will benefit from this expertise as it continues its focus on clinical drug development, corporate partnering, and in-licensing activities.'' Procept, Inc., located in Cambridge, MA, is a biopharmaceutical company currently engaged in the in-licensing, development and commercialization of novel drugs with a focus on anti-infectives and oncology. The Company's lead AIDS product, PRO 2000 Gel, is being developed as a female-controlled topical microbicide for the prevention of HIV infection and other sexually transmitted diseases. O6-benzylguanine (BG) is a chemosensitizing agent designed to break down tumor resistance and therefore enhance the efficacy of chemotherapeutic agents in several cancer indications. The proprietary photodynamic therapy compound, Boronated Protoporphyrin, is designed to be used with lasers to selectively kill fast growing cells and may be suitable to treat cancer, pre-cancer and various other medical conditions, including age-related macular degeneration, an area of recent excitement. Each of these compounds is in human clinical trials and two have received government funding and support. The Company continues its search for new in-licensing and acquisition opportunities. Certain statements in this press release constitute ''forward-looking statements'' that involve risks and uncertainties, including those arising under the Company's business strategy; the success of the Company in financing efforts; the pursuit of collaborative arrangements for research and development of product candidates, as well as the pursuit of joint development or licensing arrangements with pharmaceutical, diagnostic or instrumentation companies; the research or development of particular products, compounds or technologies; the uncertainty of the results of such development activities and related clinical trials or required regulatory approvals; and the reliance on collaborative partners and governments for development, regulatory or marketing activities. Contact: Procept, Inc. John F. Dee President and CEO 617-491-1100 Ext. 3005 jdee@procept.com or Michael E. Fitzgerald Vice President, Finance and CFO 617-491-1100 Ext. 3036 fitzgerald@procept.com www.Procept.com